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May 12, 2008 DOL Home > Rulemaking > Unified Agenda

EBSA Unified Agenda - [Proposed Rule Stage]
RIN: 1210-AB08	Publication ID: Fall 2007

Title: Amendment of Standards Applicable to General Statutory Exemption for Services
Abstract: This rulemaking will amend the regulation setting forth the standards applicable to the exemption under ERISA section 408(b)(2) for contracting or making reasonable arrangements with a party in interest for office space or services (29 CFR 2550.408b-2). This amendment will ensure that plan fiduciaries are provided or have access to that information necessary to a determination of whether an arrangement for services is “reasonable” within the meaning of the statutory exemption.
Agency: Department of Labor(DOL)	Priority: Economically Significant
RIN Status: Previously published in the Unified Agenda	Agenda Stage of Rulemaking: Proposed Rule Stage
Major: Yes	Unfunded Mandates: No
CFR Citation: 29 CFR 2550 (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: 29 USC 1108(b)(2); 29 USC 1135

Legal Deadline:

None

Statement of Need: This regulation is needed to eliminate the current uncertainty as to what information relating to services and fees plan fiduciaries must obtain and service providers must furnish for purposes of determining whether a contract for services to be rendered to a plan is reasonable.

Summary of the Legal Basis: Section 505 of ERISA provides that the Secretary may prescribe such regulations as she finds necessary and appropriate to carry out the provisions of title I of the Act. Regulation 29 CFR 2550.408b-2 sets for the conditions necessary for relief, including the requirement that such contract or arrangement is reasonable.

Alternatives: Alternatives will be considered following a determination of the scope and nature of the regulatory guidance needed by the public.

Anticipated Costs and Benefits: Preliminary estimates of the anticipated costs and benefits will be developed, as appropriate, following a determination regarding the alternatives to be considered.

Timetable:

Action	Date	FR Cite
NPRM	11/00/2007

Regulatory Flexibility Analysis Required: Undetermined	Government Levels Affected: None
Federalism: No
Energy Effects: No	Included in the Regulatory Plan: Yes
Initial (Administrative Startup and /or Capital) Cost: $0	Yearly (Annual Operating) Cost: $0
Agency Contact: Kristen Zarenko Pension Law Specialist Department of Labor Employee Benefits Security Administration 200 Constitution Avenue NW., FP Building, Room N-5669, Washington, DC 20210 Phone:202 693-8500